Monday 26 July 2021 10:20 am

Lloyd's insurance appoints Lord Sedwill to council as deputy chair

Lloyd’s has today announced that Mark Sedwill will join Lloyd’s council and succeed as the new senior independent director and deputy chair of the insurance marketplace.

Bruce Carnegie-Brown, chairman of Lloyd’s, said of the appointment: “As one of the most respected figures in modern British diplomacy, and a former head of the UK civil service, Mark brings to Lloyd’s a unique and independent perspective as we deliver against our strategic priorities.”

Carnegie-Brown continued: “His leadership on initiatives in the areas of governance, risk management, ESG and business transformation make him an excellent choice for this role.”

Lord Sedwill is a former cabinet secretary, national security advisor and head of the UK civil service. He is a senior advisor to Rothschild & Co,

The Oxford-educated diplomat was given the title of Baron Sedwill of Sherborne in September last year.

Alongside being a senior advisor to Rothschild & Co, a financial services company, Sedwill chairs the G7 Panel on economic resilience.

He said he was “honoured” by the role. Sedwill described the insurer as “a world-class British institution which is vital to the future of the City and UK financial services.”

The appointment has been approved by the Prime Minister but remains subject to the approval of the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).

Sedwill will succeed Andy Haste, who will step down after nine years as deputy chair and senior independent director at the end of October.

Bruce Carnegie-Brown said: “Andy has made a huge contribution to Lloyd’s during a time of significant challenge and change for the market.”